Short Take: Teleport acquires CERFnet

Teleport Communications Group, a local telephone company active in 57 metro areas, today acquired Internet service provider CERFnet Services for $68 million in stock. TCG is buying CERFnet from General Atomics. CERFnet serves more than 6,000 corporate and professional customers. TCG will bundle CERFnet's Internet access with its own telecommunications services.

Teleport Communications Group, a local telephone company active in 57 metro areas, today acquired Internet service provider CERFnet Services for $68 million in stock. TCG is buying CERFnet from General Atomics. CERFnet serves more than 6,000 corporate and professional customers. TCG will bundle CERFnet's Internet access with its own telecommunications services.